Minister of Electronic Technology and Information Technology Ashwini Vaishnaw said on Tuesday that India’s smartphone exports were just over Rs 2 million in the fiscal year, up 54%, with Apple’s iPhone alone contributing Rs 1.5 million. He said smartphones are one of India’s largest exports.
The minister also stressed that India’s electronics manufacturing industry has grown fivefold over the past decade, with an annual growth rate of more than 17%. During this period, electronic product exports increased sixfold at more than 20% per year.
During the day, the minister announced the notification of the electronics manufacturing plan of Rs 22,919 crore, which was approved by the union cabinet on March 28. He said the government will consult on the implementation guidelines, which should be ready within two to three weeks, after which an applicable portal will be opened. “In a sense, this is the third phase of our growth. We only start with the finished product, then the subcomponents and the current components,” Vaishnaw said.
